The Homepath Program is provided by Fanni Mae and offers special financing to potential home buyers on foreclosed properties owned by Fannie Mae and along with special discounts home buyers receive other exclusive benefits.
Among these benefits is the Fannie Mae Firstlook program that give buyers a 20 day period to consider properties prior to them being marketed to investors. This program is offered to owner occupant buyers and gives them the opportunity to make offers without investor competition.
Another special benefit for Homepath buyers is the ability to utilize local housing assistance programs such as HUD to fund a down payment or to put towards the purchase of a property which is not typically allowed by banks when seeking a conventional mortgage. With a Fannie Mae Homepath loan you can request up to 3% closing cost assistance towards your purchase.
In addition Homepath also offers investors special financing programs for the purchase of multiple properties.
So whether your an investor or even a first time home buyer the Fannie Mae Homepath program is definitely something to heavily consider.
